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Step 1: Focus on your core product. A very successful e-newsletter entrepreneur has built his business around this mantra: "Prospects buy when they trust your value is applicable to them and believe your company is stable." This strong position allows him to constantly check up on the services and value he's providing his customers. Keep this statement in mind as we go through the rest of the seven steps, because internalizing this mantra is the key to a solid plan.
It's common in small, service businesses that the entrepreneur feels he or she must do everything the "big guys" do to compete. The truth is, small-business owners can really never compete in the same way. So it's essential for small businesses to differentiate themselves by focusing on the unique capabilities and core products they bring to prospects. Specialization is the entrepreneur's greatest asset.
Step 2: Keep your pitch simple. The last time you asked someone at a party what their company does, did you get a clear, concise response? Or did your eyes glaze over by the time they got to the end of their explanation? My guess is, it was probably the latter. Now imagine that same pitch being presented to prospects who don't have a glass of wine in their hands to distract them! It's not a pretty picture.
What every company needs is a simple "elevator pitch." That's a short, concise message that can communicate your message to a prospect in 30 seconds or less. It explains the value your product or service provides so the prospect understands why it's applicable to them.
Try this little exercise to test your pitch clarity quotient. Ask someone who doesn't know what you do to listen to your pitch. Explain what your company does, and watch for signs of fatigue-eyes watering, lids getting heavy, and so on. Of course, you may have the perfect pitch. But if you don't, you'll recognize it right away from verbal and physical responses.
Step 3: Stay true to who you are. Knowing who you are and what gets you excited (and bores you to tears) will help you reach your goals. Nothing can derail a growth plan more than discomfort and procrastination-it's simply human nature to procrastinate over things that cause discomfort. And there are dozens of daily business requirements that every business owner detests. If you're finding yourself putting things off, it's time to start delegating
Stay true to who you are and what you do best: Hand off those tasks that will blow you off course because you don't like doing them, so you don't! Stretch and grow your capabilities in alignment with your interests and expertise. If accounting is your nemesis, hire a bookkeeper. If your personal organization is out of control, hire a temp to set up a new filing system. Always make sure that you're focused on your priority "A" tasks and delegate your Bs and Cs.
Step 4: Map it. Mapping your capabilities with your target clients' needs is an excellent way for you to determine your service strategy. You'll find that while you may be perfectly skilled in many areas, you're going after customers who don't need your particular expertise.
One common trait among many entrepreneurs is the urge to "cast a wide net" by being all things to all companies. In almost every case, however, a small business flourishes because it has a narrower service offering. Remember, a small company's value is that it can specialize in unique, top-quality services.
Develop a list of decision-making criteria that you expect your clients to use when choosing a provider in your industry. Then rank yourself (and be brutally honest) in terms of where you'd be positioned in each category. After this intense evaluation, make sure that your elevator pitch is still on target.
Step 5: Utilize marketing tools that work best for you. When deciding on a marketing strategy, implement one that fits your personality and the customers you serve. For instance, if you're terrified of getting up in front of a crowd, don't schedule yourself to participate on a panel in the hopes of generating business. You'll derail your efforts if you don't perform well.
Identify the top two marketing tools you've used in the past that have worked for your company. Let's say that's cold calling and a Web site. Then start adding new ideas for a fresh perspective. When selecting your marketing tools, also evaluate them from a financial and cost basis. Decide what will yield the best return on your efforts. Each tool should lead to a revenue-producing result in one way or another.
Step 6: Implement a plan of action. Up until now we've been in the planning mode, but now it's time to dig in and put it to work. Your action plan will also give you the map you can use to measure your progress.
Establish goals that can be reviewed at three and six months. At incremental points within each three-month period, keep checking your plan to see if you're meeting your goals. If you find you're missing the target, ask why. Were the tools appropriate for your target customer? Did you integrate the strategy, or did you just focus on one of the tools?
And don't forget to plug in specific actions that you'll do every day to help you meet your goals. That daily strategy will keep the goals of the plan top of mind.
Step 7: Exercise the plan. This final step is really straightforward: Just do it: Complete the daily actions, and then do something extra to accelerate your success plan. If you approach your plan and get butterflies in your stomach, either get over it or substitute an action that you're comfortable with so you stay on course. Don't let unplanned tasks waste precious time that should be applied toward reaching your goal. And most of all-enjoy the process!
Based on my experience as pharma sales marketer in medical filed , generating new business is equivalent to keeping sour sales leads in my product line as the only way to ensure that I will continue to grow my career because hospital pharma sales Leads don’t happen automatically; but I create them. Here are the top dozen ways I use to practice to generate my sales leads.
1. Join a networking group. I used Local business networking or lead groups are plentiful. Choose a group that encourages one-on-one exchanges where you can develop relationships over time. Don’t expect to do business directly with members of the group; instead, educate members about what you do so that they can refer people to you (and vice versa).
2. Join an association. such as Local chambers of commerce, professional associations and other groups offer opportunities to network as well. Again, relationships that take time to develop may not necessarily translate into immediate leads but can contribute to lead generation down the road. e.g. Join an association’s committee, volunteer to be a speaker or help organize an event to create a close working relationship with other members.
3. Make cold calls.You can approach prospective customers by telephone or, if you’re bold and the situation is appropriate, in person. Either way, you not only generate leads, but help to develop your sales techniques.
4. Develop strategic alliances.Depending on the type of business you’re in, you may mesh well with another type of business for the purpose of cross-referrals. For example, accountants may refer clients to bankers and vice versa. In some cases, referrals may proceed only in one direction; develop a number of alliances so that referrals come your way.
5. Generate referrals.Obtain the names of prospective customers from your existing customer base. Offer incentives, if necessary, to solicit referral information (e.g., cash back with each referral that becomes a customer). Also seek referrals through family, friends and other business associates. e.g. Ask for referrals by those who may have no interest in your business. For example, if a prospect turns you down, salvage the experience by asking for a referral to someone who might have a need for your product or service.
6. Host seminars.Instead of speaking a dozen or more in one place. Offer information through a seminar – this is a valued service to people and showcases your expertise. Build attendance by inviting existing customers and having them bring new faces. Leave your commercial for the end of your presentation – keep it brief so as not to distract from the presentation you’ve jest completed. Ask orally or through a written handout whether attendees have an interest in hearing from you after the seminar so you can follow up effectively.
7. Be a guest speaker.Local business associations and charitable organizations are always looking to fill their event schedule with speakers. Offer to talk to members on a topic that can highlight your expertise. Speaking leads to visibility in your community.
8. Host a special event.Hold an after-hours wine-and-cheese party for your customers. Have them bring their friends (your new prospects).
9. Become a community volunteer.Join a local organization that has nothing to do with business – the volunteer ambulance corps, Mothers Against Drunk Driving (MADD) or the PTA. Again, the aim is not only to support the local organization or cause but to become visible and develop relationships. This activity may not produce immediate sales leads, but you’ll be supporting an important cause and over time you will gain new relationships that will help your business.
10. Send direct mail.A mail campaign need not be a massive undertaking costing thousands of dollars. You can adopt a limited program in which you send out five or 10 pieces each week. The key in your program is to target your prospects and then follow up with a telephone call. By having a direct mail piece precede your call, you’ve warmed up a prospect – you can refer to the piece and ask the prospect if he or she’s had a chance to read it and has any questions.
11. Use trade shows. Trade shows provide a venue for obtaining a large number of leads in a short amount of time. Whether you have a booth or table at the show or ware a visitor, you can exchange business cards with others at the show. e.g. Write key information on the back of each business card to help you remember something about each person.
12. Observe the three-foot rule. Whenever you are with three feet of someone, be prepared to give your 30-second commercial about who you are and what you do. Introduce yourself, state the name of your business and give a brief explanation of what your company can do for a customer. e.g. Using the three-foot rule turns waiting time into productive time when you’re standing in line at the post office, bank or another location.
refer to:Ben Blumberg of Salesworks LLC in White Plains, NY (www.salesworksllc.com).
Great business ideas are all around you. Just open yourself to the possibilities, and you're bound to find a winner. To start your search for that drop-dead idea that's going to set the world on fire, start with the following sources
In the end it depends on the economy, legislation and laws of the country that want to implement the project where, but most of the project selection indicators are concentrated in key questions in management and economics What How when Whose Where The answer to these questions is composed of have an idea of the project even noticed we find that it moves to a feasibility study
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I agree with M's Ghada answers, thanks for the invitation.
I fully agree with the answers been added by EXPERTS...............Thanks.
The first step: select the domain and the product
The second step: the feasibility study
step three: market research four o'clock step: make the necessary contacts
Step five: setting goals and time horizon of it
Six step: team formation
Step Seven: Start implementation
to generate new business you need to work on the following:
Thanks for the invitation. I agree with Ms. Ghada's and Mr. Vinod's answers.
